5527 W Potomac Avenue Chicago IL 60651 MLS #MRD12328890

Spring into your next investment opportunity with this professionally managed, LEGAL 2-FLAT with a BONUS garden-level in-law apartment, located in Chicago’s thriving Austin neighborhood! This solid 1915 brick building is full of character and offers an excellent opportunity to grow your portfolio or offset your mortgage while building equity. The property features a well-maintained 2-bedroom, 1-bath main-level unit, and a 3-bedroom, 1-bath upper unit complete with an enclosed porch-ideal as a den or third bedroom. Both units offer a spacious floor-plan with hardwood floors *carpet only in unit 1 living room * and separate living room, dining room and an eat-in kitchens. The finished lower-level garden unit is currently rented for $1,050/month to a reliable tenant who has paid on time consistently since the property was purchased. Current rental income totals $4,583/month, including: Garden Unit: $1,050 | Units 1 & 2: Combined $3,403 | Parking: $130 | That’s a gross annual income of $54,996, offering solid cash flow from day one. Whether you’re looking to house hack or simply add a reliable asset to your rental portfolio, this multi-unit delivers flexibility and income potential in equal measure. A fenced backyard and 2-car garage offer convenience and added appeal for both owners and tenants. With a Walk Score of 78, and easy access to major bus routes and expressways, this property is well-positioned for commuters and city lovers alike. Photos were taken after recent unit refurbishments in early 2024, showcasing updated interiors that blend comfort with historic charm. The low property taxes make this investment even more attractive for cash flow-minded buyers. FHA buyers welcome! Whether you’re an investor looking for steady returns or an owner-occupant ready to make a smart move, this is the kind of opportunity that doesn’t come around often-schedule your showing today! Please note: property taxes do not reflect a homeowners exemption, occupy and claims yours for additional savings.